Punjab Skills
Development
Fund
Bank Guarantee Form
PSDF Finance Team
NOTE:
This document is to be used by the following types of entities:
 Private Firms
 Private Training Institutes
 NGOs (International & National)
 Section 42 Companies- Managed Privately
 Section 42 Companies- Managed by Public-Private Partnerships
For further Clarification, contact CFO PSDF or Monitoring Team 042-35913540-41
PUNJAB SKILLS DEVELOPMENT FUND
BANK GUARANTEE FOR MOBILISATION ADVANCE
1. In consideration of M/s Punjab Skills Development Fund (Company registered under
the Companies Ordinance 1984) having its Registered Office at House No. 125, AbuBakar Block, New Garden Town, Lahore (hereinafter called the "Company") having
placed an order on M/s ___________________________________ a partnership
firm/sole proprietor/a Company registered under the Companies Ordinance 1984,
having its office at________(complete address) ______________ (hereinafter called
"the Contractor" which expression shall include its successors in business and assigns)
vide Purchase Order No. _________________ dated __________________ for(specify
nature of job) ________________ (hereinafter called "the Order" which expression shall
include any amendments / alterations thereto as issued by "the Company") for the
execution of service for "the Company" and having agreed to pay the Contractor as and
by way of advance up to a sum of Rupees __________________ being _________ %
of the value of "the Order" in terms of "the order" on production of an acceptable Bank
Guarantee for an amount of Rs. _________________.
2. We, __________________ Bank (hereinafter referred to as "the Bank"), do at the
request and on behalf of "The Contractor" hereby agree to pay to "the Company"
without any demur on first demand an amount not exceeding Rs. ________ (in words)
against any loss or damage, costs, to or suffered by "the Company" by reason of any
breach on the part of "the Contractor" of any of the terms and conditions of the said
"Order".
3. We, ________________ Bank, further agree that "the Company" shall be the sole
judge whether the said "Contractor" has committed breach of any of the terms and
conditions of "the Order" and the extent of loss, damage, cost, charges and expenses
suffered or incurred or would be suffered or incurred by "the Company" on account
thereof and we waive in favor of "the Company" all the rights and defense to which we
as guarantors and/or the contractor may be entitled to.
4. We, __________________ Bank, further agree that the amount demanded by "the
Company" as such shall be final and binding on "the Bank" as to "the Bank's" liability to
pay the amount demanded and "the Bank" undertake to pay "the Company" the amount
so demanded on first demand without any demur notwithstanding any dispute raised by
"the Contractor" or any suit or other legal proceedings including arbitration pending
before any court, tribunal or arbitrator relating there to, our liability under this guarantee
being absolute and unconditional.
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PUNJAB SKILLS DEVELOPMENT FUND
5. We, _____________ Bank, further agree that the guarantee herein contained shall
be irrevocable and remain in full force and continue to have full effect so long as the
said amount remains unadjusted.
6. We, __________________ Bank, hereby lastly undertake not to revoke this
guarantee during its currency except with the previous consent of "the Company" in
writing.
7. This guarantee shall not be determined or affected by the liquidation or winding up,
dissolution or change of constitution or insolvency of "the Contractor", but shall in all
respects and/for all purposes be binding and operative on "the Bank" until payment of
all moneys payable by "the Contractor" in terms thereof.
8. "The Bank" has power to issue this guarantee in favor of "the Company" in terms of
the documents and/or the agreement/contract or MOU entered into between "the
Contractor" and "the Bank" in this regard.
IN WITNESS whereof, Bank of _________________, has executed this document at
____________________ on _________________ 2011.
____________________________
Signature and seal:
Name of Bank:
Address:
Date
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